US flop puts another hole in Gap earnings

FASHION chain Gap has suffered a seventh successive quarter of falling profitability as it struggles to turn its business around.

The group, which has stores on Princes Street and at Fort Kinnaird, saw its net profit for the three-month period slide to £89.6 million, from £122m over the same period the year before.

And while overall sales were up three per cent to £1.8 billion, like-for-like sales dipped by four per cent, marking the 11th consecutive quarter Gap had endured a drop in like-for-like sales.

Read Full Article from Scotsman

- Posted: 2007-05-25 13:02:05

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